
Warren Buffett's Berkshire Hathaway exits Paytm; stock drops 1%
Berkshire Hathaway sold 1.56 crore shares or 2.5% stake in Paytm at an average price of ₹877.29 per share via block deal on November 24.
Berkshire Hathaway sold 1.56 crore shares or 2.5% stake in Paytm at an average price of ₹877.29 per share via block deal on November 24.
The shares of Paytm parent, One97 Communications, declined as much as 4.6% to hit a low of ₹880, with 8.7 lakh shares changing hands on the BSE.
Snapping five sessions gaining streak, Paytm shares declined as much as 3.5% as investors booked profit at higher levels.
EBITDA without ESOP costs improved to ₹153 crore as compared to a loss of ₹166 crore in Q2 FY23.
Jefferies has set a target price of ₹1,300 for Paytm, a 34% upside compared with its closing price on October 19.
Paytm says action based on deficiencies in regulatory compliance and not intended to pronounce upon validity of any transaction with customers
The company aims to solve two problems for merchants — accepting card payments along with getting instant audio alerts for all payments
Alibaba Group subsidiary Antfin is looking to sell 3.6% stake in Paytm through a block deal today at a floor price of ₹880.10 per share.
Bernstein has also revised the target price of Paytm to ₹1,100 per share, a potential upside of 31% from its current market price.
Paytm founder and CEO Vijay Shekhar Sharma will acquire 10.30% stake in the company from Antfin, via his 100% owned overseas entity, Resilient Asset Management B.V.